Biogen (NASDAQ:BIIB) Now Covered by Analysts at Evercore

Evercore initiated coverage on shares of Biogen (NASDAQ:BIIB) in a report issued on Friday. The brokerage issued an outperform rating on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the stock. TD Cowen boosted their price target on shares of Biogen from $175.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 9th. Canaccord Genuity Group boosted their price target on shares of Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Wedbush boosted their price target on shares of Biogen from $191.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Morgan Stanley boosted their price objective on shares of Biogen from $200.00 to $206.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada boosted their price objective on shares of Biogen from $213.00 to $222.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.62.

Biogen Price Performance

Shares of BIIB stock opened at $192.95 on Friday. Biogen has a 12-month low of $121.05 and a 12-month high of $205.97. The firm has a market capitalization of $28.49 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.68 and a beta of 0.19. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average of $185.21 and a 200-day moving average of $179.33.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business earned $3.02 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, equities research analysts forecast that Biogen will post 14.21 earnings per share for the current year.

Institutional Investors Weigh In On Biogen

Several institutional investors have recently added to or reduced their stakes in BIIB. Empowered Funds LLC lifted its position in Biogen by 64.9% in the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after acquiring an additional 2,777 shares in the last quarter. Focus Partners Wealth lifted its position in Biogen by 172.2% during the 1st quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after buying an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Biogen during the 2nd quarter worth about $216,000. Cerity Partners LLC lifted its position in Biogen by 15.3% during the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock worth $5,847,000 after buying an additional 6,184 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Biogen by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after buying an additional 316 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

More Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen said its Phase 2 CELIA study of diranersen (BIIB080), a tau-targeting Alzheimer’s drug, showed robust reductions in tau pathology and signals of slowed cognitive decline, prompting the company to advance the program into late-stage development. Topline Results from Phase 2 CELIA Study of Diranersen (BIIB080): First Study to Show Reduction in Tau Pathology and Cognitive Benefit in Patients with Early Alzheimer’s Disease
• Positive Sentiment: Goldman Sachs reiterated a Buy rating and lifted its price target to $250, while Oppenheimer raised its target to $300 and Evercore initiated coverage with an Outperform rating, reinforcing optimism around Biogen’s valuation and pipeline. Goldman’s Richter Reiterates Buy on Biogen as Leqembi Outperforms and Price Target Rises from $238 to $250 Oppenheimer raises Biogen price target to $300 from $275, maintains Outperform rating
• Positive Sentiment: Biogen completed its $5.3 billion acquisition of Apellis Pharmaceuticals, adding commercial products SYFOVRE and EMPAVELI and potentially improving near-term growth prospects. Biogen Completes Acquisition of Apellis Pharmaceuticals
• Neutral Sentiment: Some analysts remain cautious, saying mixed Alzheimer’s data and pipeline uncertainty still create a balanced risk/reward profile despite the recent rally. Biogen: Hold Rating Reiterated as Pipeline Concerns Offset Leqembi Growth; $196 Price Target Maintained
• Negative Sentiment: The CELIA study missed its primary endpoint, and a law firm has already announced an investigation into possible securities-law issues tied to the stock’s move after the data release, which could add headline risk. Investigation Alert: Biogen Inc. (BIIB) Under Scrutiny – Contact Levi & Korsinsky for Details

About Biogen

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.